Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.17 Million Stake in Corteva, Inc. $CTVA

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,501 shares of the company’s stock after selling 6,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corteva were worth $3,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CTVA. Nuveen LLC acquired a new stake in shares of Corteva during the 1st quarter worth approximately $640,333,000. WCM Investment Management LLC grew its position in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares during the period. Assenagon Asset Management S.A. grew its position in Corteva by 4,769.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after purchasing an additional 1,884,897 shares during the period. JPMorgan Chase & Co. grew its position in Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after purchasing an additional 1,769,355 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Corteva by 65.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after purchasing an additional 1,290,009 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada cut their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. The Goldman Sachs Group cut their target price on Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, BMO Capital Markets set a $86.00 price objective on shares of Corteva in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $79.69.

Corteva Price Performance

Shares of NYSE:CTVA opened at $61.62 on Friday. The company’s 50-day moving average is $67.76 and its 200 day moving average is $69.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The company has a market capitalization of $41.84 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.